Synopsys, Inc. (NASDAQ:SNPS) Shares Bought by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV grew its holdings in shares of Synopsys, Inc. (NASDAQ:SNPSGet Rating) by 46.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 290 shares of the semiconductor company’s stock after purchasing an additional 92 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Synopsys were worth $88,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors LLC grew its holdings in Synopsys by 1.8% during the first quarter. Atlas Capital Advisors LLC now owns 2,176 shares of the semiconductor company’s stock worth $725,000 after acquiring an additional 38 shares during the period. Whittier Trust Co. increased its stake in Synopsys by 6.8% in the 1st quarter. Whittier Trust Co. now owns 615 shares of the semiconductor company’s stock worth $205,000 after purchasing an additional 39 shares in the last quarter. Ascent Group LLC increased its stake in Synopsys by 2.7% in the 1st quarter. Ascent Group LLC now owns 1,494 shares of the semiconductor company’s stock worth $498,000 after purchasing an additional 39 shares in the last quarter. M&T Bank Corp increased its stake in Synopsys by 0.8% in the 1st quarter. M&T Bank Corp now owns 5,244 shares of the semiconductor company’s stock worth $1,747,000 after purchasing an additional 40 shares in the last quarter. Finally, Covestor Ltd increased its stake in Synopsys by 18.9% in the 1st quarter. Covestor Ltd now owns 271 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 43 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNPS has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Synopsys from $375.00 to $425.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Wolfe Research began coverage on Synopsys in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $440.00 price target on the stock. Robert W. Baird raised their price objective on Synopsys from $409.00 to $444.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. Needham & Company LLC raised their price objective on Synopsys from $380.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Finally, Rosenblatt Securities raised their price objective on Synopsys from $390.00 to $405.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $405.33.

Synopsys Price Performance

Shares of Synopsys stock opened at $317.32 on Tuesday. The firm has a market cap of $48.52 billion, a price-to-earnings ratio of 48.15, a P/E/G ratio of 3.03 and a beta of 1.23. Synopsys, Inc. has a 52-week low of $255.02 and a 52-week high of $391.17. The stock has a 50-day simple moving average of $347.10 and a 200-day simple moving average of $319.52.

Synopsys (NASDAQ:SNPSGet Rating) last posted its earnings results on Wednesday, August 17th. The semiconductor company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.11. Synopsys had a return on equity of 18.29% and a net margin of 20.86%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the previous year, the company earned $1.27 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, equities research analysts predict that Synopsys, Inc. will post 6.41 earnings per share for the current year.

Synopsys announced that its board has initiated a share repurchase plan on Thursday, September 1st that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the semiconductor company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Mercedes Johnson sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $360.00, for a total value of $720,000.00. Following the completion of the sale, the director now directly owns 5,346 shares in the company, valued at approximately $1,924,560. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Synopsys news, CFO Trac Pham sold 18,393 shares of Synopsys stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $307.03, for a total value of $5,647,202.79. Following the transaction, the chief financial officer now directly owns 39,811 shares of the company’s stock, valued at approximately $12,223,171.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mercedes Johnson sold 2,000 shares of Synopsys stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $360.00, for a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 5,346 shares in the company, valued at $1,924,560. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,182 shares of company stock worth $22,033,688. 1.20% of the stock is currently owned by insiders.

Synopsys Company Profile

(Get Rating)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. The company offers Fusion Design Platform that provides digital design implementation solutions; Verification Continuum Platform that provides virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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